Transforming the 20-year Vacant Mapleton High School into Hub 25—A Rare Class A Industrial Development in Central Denver
DENVER (Mar. 23, 2016) – Westfield Company announced today the unveiling of Hub 25, a project that will deliver 421,500 square feet of new, Class A industrial space at the 20-year-vacant site of the former Mapleton High School in Central Denver. The development located on 23.76 acres near the junction of I-25 and I-76 is already attracting interest from multiple industrial users looking to relocate or expand into the Central Denver market.
“Hub 25 is one of the most highly sought-after land sites that Denver has ever seen,” said Tyler Carner, senior vice president, CBRE Denver Industrial & Logistics Services. Together with CBRE’s Jeremy Ballenger, the pair represented the Mapleton School District in the sale of the property, and Westfield Company has hired them to lease the project. “The combination of unparalleled I-25 signage opportunities, Class A development, small-bay space and an in-fill location in an unincorporated, Enterprise Zone sets Hub 25 apart from any industrial project developed in Denver in the last decade.”
“The Mapleton High School site has sat vacant and unavailable for 20 years and to now have the opportunity to redevelop it into Hub 25—a project that will provide high-quality space for local businesses—is very exciting for our company,” said Randy Schwartz, partner, Westfield Company.
Hub 25 is located at 601 East 64th Avenue in Adams County, just east of I-25 North and accessible within one mile from both the 58th Avenue and 70th Avenue freeway exits. With 1,800 linear feet of frontage along the I-25 freeway, 213,000 cars pass the site every day.
“Not only is the frontage greater than any other recent industrial development, but Hub 25’s location between I-70 and I-76 means users can potentially avoid much of the congestion likely to occur with the upcoming renovation of I-70 east of Denver,” said Mr. Ballenger, vice president, CBRE Denver Industrial & Logistics Services. “The site is also strategic as it sits in unincorporated Adams County and within an Enterprise Zone with no metro district overlays. This unique combination is material providing 25 to 35 percent potential tax benefits to end users.”
The finished property will include four buildings ranging from approximately 43,500 square feet to 145,000 square feet. The project can accommodate users from 20,000 square feet up to the full capacity of 421,500 square feet. Build-to-Suit opportunities are also available although Westfield will be speculatively building the project.
“Hub 25 is well poised to meet the unique needs of the Denver industrial market, especially within construction supply, showroom and as a last-mile distribution solution for e-commerce users,” said Mr. Ballenger. “The project can accommodate light industrial users or large tenants while offering an in-fill location and Class A quality.”
In addition to the buildings’ 28-foot ceilings, the development will include 135-foot truck courts, trailer parking and storage, front park/rear load options, efficient column spacing and ESFR sprinklers. Hub 25’s location is Zoned I-2 and I-3. Additional information including site renderings is available at www.hub25denver.com.
“The construction of Hub 25 has commenced with demolition of the existing school facilities in progress,” said Schwartz. “The first of the four buildings will deliver the fourth quarter of this year, with the last building delivering first quarter 2017.”
About CBRE Group, Inc. CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.